Durango Silver and Copper Co. - Mining Bond
Inv# MB5143 Bond
$100 8% Bond printed by American Bank Note Company.
Silver mining is the extraction of silver from minerals, starting with mining. Because silver is often found in intimate combination with other metals, its extraction requires elaborate technologies. In 2008, ca.25,900 metric tons were consumed worldwide, most of which came from mining.
Copper extraction refers to the methods used to obtain copper from its ores. The conversion of copper consists of a series of physical and electrochemical processes. Methods have evolved and vary with country depending on the ore source, local environmental regulations, and other factors.
As in all mining operations, the ore must usually be beneficiated (concentrated). The processing techniques depend on the nature of the ore. If the ore is primarily sulfide copper minerals (such as chalcopyrite), the ore is crushed and ground to liberate the valuable minerals from the waste ('gangue') minerals. It is then concentrated using mineral flotation.
The concentrate is typically sold to distant smelters, although some large mines have smelters located nearby. Such colocation of mines and smelters was more typical in the 19th and early 20th centuries, when smaller smelters could be economic.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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